How To Learn If You Have Enough Equity To Refinance

Deborah Kearns, NerdWallet.com
Wed, 04/20/2016 - 2:32pm

If you’ve been underwater on your mortgage — owing more than the market value of your house — or live in an area where home values are struggling to recover after the recession, it can be hard to know whether you’ve regained enough equity to make a mortgage refinance work in your favor. “Equity” is just a fancy term to describe the difference between your home’s fair market value and the outstanding balance of your mortgage.

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